Recently, Russia fully resumed domestic foreign exchange transactions. Some people have seen in related news that Russia sells 654.38+0 billion RMB to the market every day.

Does this mean that Russia is reducing its RMB reserves?

In fact, on the contrary, this is a misinterpretation of relevant news.

Some time ago, the Russian ruble fell by 17% in 65438+February, but recently it has begun to recover lost ground. In order to further support the strength of the ruble exchange rate, Russia plans to continue to sell up to 800 million US dollars of foreign exchange in the near future.

Among them, transactions in the RMB market are mainly conducted through RMB ruble tools, which makes some netizens mistakenly think that Russia is abandoning the RMB.

In fact, this is one of the measures to support the ruble.

02, just buy RMB, on the contrary, Russia has resolutely turned to RMB.

At the annual press conference in the middle of this month, the Russian Foreign Minister claimed that half of the trade with China is conducted in RMB and rubles, and it will continue to grow in the future.

Russian-Chinese trade is increasing, especially in 2022, the growth rate of Russian exports to China is more than 50%, the growth rate of exports is much faster than imports, and the export volume is far greater than imports. At present, Russia maintains a large trade surplus with China.

It can be seen that Russia has earned a lot of RMB due to its trade surplus with China.

Perhaps it is for this reason that after entering 2023, Russia will buy RMB more intensively.